Asia has had some movement already and a nice shakedown especially against AUDUSD. However, most pairs against USD are still in technical uptrends and with a fresh session we look to enter an identified break and retest setup using rejection candles in NU. Lets see how it plays out
SETUP Break & Retest spotted late and opportunity taken. Lets see if setup plays out
B&R identified in GU with DXY seemingly picking up strength across the board. RSI also breaking down SMA trend line for indicator confirmation and price is in fib extension reversal zone. Lets see if we can start the week off right! Safe trading everyone
NU has met requirement for a reversal setup with multiple rejections stalling out sellers, going for at least 1:2RR
Sell stop activated on break and retest setup using momentum shift as our entry trigger in line with what seems to be USD strength during this session
Asia has setup a nice reversal trade strait out the playbook and provided us with double confirmation on entry. Let’s see if we can at least a 2R out of this one
Something bullish is happening in China, potentially primarily due to the reopening and all the liquidity injections by the PBoC. China never raised rates while slowly adding liquidity to markets. We saw a significant capitulation when Xi became emperor for life by removing everyone that could potentially cause trouble to him from the CCP, as well as when we first...
On this last Asian setup price action points to a potential short term opportunity using a variety of confluences, lets see what happens
Requirements met for a break and retest setup using buyer depletion
EU has qualified for our reversal setup on an inside bar break down, aiming for at least 1:2 RR
USDCHF has met all requirements for both, the '618' and 'B&R' playbook setup using price action depletion to set our buy stop for our entry criteria. Lets see how it goes
We can see sellers have been depleted over the past hour and price has qualified for playbook setup B&R using our depletion entry. Good probability of reaching 1:2 RR. Lets see what happens over the rest of ASIA and check back in during London. Safe trading everyone, see y'all soon!
Price in a clear uptrend with GBP showing overall market strength. Price is moving quickly and I had to hurry and set a 618 limit buy order that got hit before I knew what was going on! Lets see what happens. Looking for at least 2R to start the week
Price has met all criteria for our 'reversal setup' and on top of that, price is hanging around the higher timeframe fib extension and ABCD completion levels. Lets see if ASIA can give at least give us a 2R idea in the bag
EJ bias in higher timeframes is still bullish and here we get a nice consolidation leading to a breakout candle at the start of our shift. Price is aggressively drawing down but unfortunately the trade is already set. The process is being followed correctly and this position meets playbook criteria so the trade must play out. Going for 2R on this one
In confluence with other JPY pairs, GJ seems to be for action with a multitude of presented playbook setups. We will go with a break out break back in of supporting structure with an inside bar break entry. If works, has high potential to swing for higher targets
UJ has tested round level of previous structure nicely which happens to coincide with our fib ext playbook setup using rejection candle as entry
Break out setup conditions met with ATR being used as our SL for a 1:2 trade